Income Tax

  • Income Tax

Addition for share capital / premium not proved to AO’s satisfaction-SC outline emerging principles

Assessee legally obliged to prove receipt of share capital/premium to the satisfaction of AO, failure of which justify addition –…

5 years ago
  • Income Tax

Commission paid to employees partakes character of salary for TDS purpose

Commission paid to employees partakes character of salary and TDS is applicable only u/s 192 not under Section 194H –…

5 years ago
  • Income Tax

Assessee alone can decide whether to keep cash in locker or deposit in bank FDR – ITAT

The assessee alone can decide whether to keep cash in locker or deposit in bank FDR. ITAT deleted addition made…

5 years ago
  • Income Tax

Depreciation on fixed assets classified as capital work in progress allowed

Depreciation on fixed assets classified as capital work in progress allowed in the revised return when corresponding income was taxed…

5 years ago
  • Income Tax

Deduction u/s 80HH available out of gross profits before insertion of Section 80AB –SC

Deduction u/s 80HH available out of gross profits before insertion of Section 80AB with effect from 1st April, 1981 –Supreme…

5 years ago
  • Income Tax

CBDT extends term of Force for drafting a New Direct Tax Legislation by three months

CBDT extends term of Task Force constituted for reviewing existing Income-tax Act and drafting a new direct tax legislation by…

5 years ago
  • Income Tax

India & Brunei sign Agreement for Exchange of Information and Assistance in Tax Collection  

India and Brunei sign Agreement for the Exchange of Information and Assistance in Collection with respect to Taxes (TIEA)  The…

5 years ago
  • Income Tax

Income Tax Department hits terror financing in J&K Region, Conducts search at various places

Income Tax Department hits at terror financing activities in J&K Region; Conducts sensitive search action at various places. As per…

5 years ago
  • Income Tax

CBDT promotes 70 officers in the grade of ACIT on ad-hoc basis

CBDT promotes 70 officers in the grade of Assistant Commissioner of Income Tax on ad-hoc basis for the vacancy year…

5 years ago
  • Income Tax

Income tax law on substantial question of law – SC explains options before High Court

Income tax law on substantial question of law - Supreme Court explains options available before the High Court when no…

5 years ago